PINE
Alpine Income Property Trust, Inc.
PINE's fundamentals are strong: revenue grew 32% and its operating margin rose 25 points to 41%. At 36x earnings, it's trading about half its usual 75x. Analysts expect that strong growth to continue.
PINE Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| N/A | |
| N/A |
PINE's revenue and profitability are currently strong. Free cash flow and net leverage aren't meaningful measures for real estate companies like PINE.
PINE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.4x | $3.93 | -76% |
| Forward | 31x | $16.69 | — |
| Current | 36x | $16.69 | — |
| Fair | 74x | $34.89 | +109% |
| Expensive | 118x | $55.60 | +233% |
Historical ranges are pointers, not guarantees.
PINE's PE is in its fair range at 36x. If earnings grow as analysts expect, today's price would be 31x next year's earnings.
PINE Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for PINE, but weaker profitability.
PINE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.54 | +15% |
| Q3 2026 | $0.47 | +$0.82 |
| Q2 2026 | $0.20 | +$0.25 |
| Q1 2026 | -$0.08 | -200% |
| Q4 2025 | -$0.22 | -257% |
| Q3 2025 | -$0.35 | -259% |
| Q2 2025 | -$0.05 | -$0.01 |
| Q1 2025 | $0.08 | +$0.12 |
| Q4 2024 | $0.14 | -26% |
PINE has returned to profit: it earned $0.47 per share over the past year, after losing money the year before.
PINE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $20.5M | +40% |
| Q2 2026 | $20M | +35% |
| Q1 2026 | $18.4M | +30% |
| Q4 2025 | $16.9M | +23% |
| Q3 2025 | $14.6M | +8% |
| Q2 2025 | $14.9M | +19% |
| Q1 2025 | $14.2M | +14% |
| Q4 2024 | $13.8M | +19% |
PINE's revenue has grown year over year for 11 quarters in a row: $20M last quarter, up 40% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 48% | +31 points |
| Q2 2026 | 44% | +27 points |
| Q1 2026 | 36% | +20 points |
| Q4 2025 | 35% | +21 points |
| Q3 2025 | 17% | -31 points |
| Q2 2025 | 17% | -7.2 points |
| Q1 2025 | 16% | -4.7 points |
| Q4 2024 | 14% | -11 points |
PINE's operating margin was 48% last quarter, up 31 points from the same quarter a year ago.
PINE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.8M | +$50.6M |
| Q2 2026 | $5.8M | +$10.9M |
| Q1 2026 | -$53.2M | +$301K |
| Q4 2025 | -$111.4M | -$59.2M |
| Q3 2025 | -$48.8M | -$5.7M |
| Q2 2025 | -$5M | +$8.5M |
| Q1 2025 | -$53.5M | -2740% |
| Q3 2024 | -$43M | -949% |
PINE's free cash flow was −$157M over the past year, against −$160M the year before. Free cash flow isn't a meaningful measure for real estate companies like PINE.
PINE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.4% | +627K shares |
| 1 year | +23% | +3.5M shares |
| 3 years | +21% | +3.3M shares |
| 5 years | +46% | +5.9M shares |
| Available history | +139% | +11M shares |
PINE has 19M diluted shares, up 23% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $4.3M |
| Q1 2025 | $4.5M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $775,000 |
PINE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.6x | High |
| Q2 2026 | 7.1x | High |
| Q1 2026 | 8.0x | High |
| Q4 2025 | 9.2x | High |
| Q3 2025 | 9.8x | High |
| Q2 2025 | 8.7x | High |
| Q1 2025 | 8.7x | High |
| Q4 2024 | 7.6x | High |
PINE's net debt is about 6.5 years of its operating earnings (EBITDA), down from 9.8 years a year ago. Net leverage isn't a meaningful measure for real estate companies like PINE.
PINE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.8 | Neutral |
| Stochastic | 15.6 | Oversold |
PINE's weekly RSI is 38 (neutral) and its Stochastic is 16 (oversold).
PINE PE vs Real Estate Sector
| Metric | PINE | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 24x | 49% above |
| PE % | 48 | 23 | 25 pts above |
PINE is trading at 36x earnings, a 49% premium to the Real Estate sector's median of 24x.
PINE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.1 | 2.2% below |
| 20 week MA | $18.7 | 11% below |
| 50 week MA | $18.7 | 11% below |
| 100 week MA | $17.1 | 2.3% below |
| 200 week MA | $16.9 | 1.1% below |
PINE is in a downtrend: it's below all five of its weekly moving averages, and 1.1% below its 200-week average.
PINE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.8 | $14.4 | -23% |
| 2021 | $14.4 | $19.1 | +32% |
| 2022 | $19.1 | $18.7 | -2.4% |
| 2023 | $18.7 | $16.9 | -9.4% |
| 2024 | $16.9 | $16.2 | -4.1% |
| 2025 | $16.2 | $16.5 | +1.5% |
| 2026 YTD | $16.5 | $16.7 | +1.5% |
PINE has finished lower in four of the last six years. It's up 1.5% so far in 2026.